Petromin marine and offshore Jan-Feb Issue

of Singapore is funding the construction of six LNG-fueled
vessels. Also, the MPA is attempting to create national and
international standards and procedures for LNG.
MPA in December last year injected another S$12 million
to boost Liquefied Natural Gas (LNG) bunkering in the Port
of Singapore.
” As the world’s largest bunkering hub, MPA will support
future demand by promoting the development of
ship-to-ship LNG bunkering in the Port of Singapore.
This will provide the industry greater confidence in the
availability of LNG supply across key shipping routes.”
Half of this S$12 million has been set aside to co-fund the building
of new LNG bunker vessels (LBVs) to facilitate the development
of ship-to-ship LNG bunkering in the Port of Singapore. The
remaining half will be used to top up MPA’s existing co-funding
programme to support the building of LNG-fuelled vessels.
Launched in 2015, the initial funding for this programme has
Mr Andrew Tan,
Chief Executive of MPA
been fully utilised to support Keppel SMIT Towage Pte Ltd, Maju
Maritime Pte Ltd, Harley Marine Asia Pte Ltd, Sinanju Tankers Pte
Ltd, and most recently, PSA Marine (Pte) Ltd.
Singapore aims to become a regional LNG trading hub and has
created an index to perform spot pricing for LNG. Singapore’s
only LNG regasification terminal has facilities with the ability to
transfer LNG from ocean liners to smaller vessels, which can access
more regional terminals. The terminal also has storage and
reloading capabilities, so LNG can be unloaded, temporarily
stored, and eventually delivered to its final destination. However,
Singapore’s small infrastructure compared to that of other
Asian importing LNG countries could challenge its becoming a
major LNG trading hub.
About 95 per cent of Singapore’s electricity is generated
using natural gas. Global expenditure on LNG
is projected to exceed US$280 million by 2021 while
global offshore wind market is expected to surge
past US$130 billion by 2023. Leading yard groups
KOM and SembMarine have already ventured into
the LNG segment, with KOM having delivered the
world’s first converted floating liquefaction vessel,
the Hilli Episeyo, last year.
Singapore is also looking to supply LNG bunker fuel to vessels
by early 2017. The Maritime and Port Authority (MPA)
Mr Andrew Tan, Chief Executive of MPA, said, “With the implementation
of the International Maritime Organization’s (IMO)
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